I Still Buy Steem - can we bypass the exchanges and trade directly?

in #promo-steem • 7 years ago

A couple of months ago I posted that I buy steem - directly.

Since then I have developed a network of a dozen or so steemians around the world that I regulary buy steem from directly. This bypasses the exchanges and makes swapping between steem and fiat cheaper and faster.

But that network doesn't always have steem to sell, particularly when the steem price is low.

So I am currently looking to add to that network.

Do you often have steem that you would like to sell - quickly and cheaply?

If so I may be able to help.

I regularly buy small amounts of steem - usually up to 50 steem at a time (maybe larger when I have got to know you).

I do not aim to profit from the trades. For me it is purely to avoid the costs and delays of using the exchanges.

I use Coinmarket Cap and the BBC to get exchange rate information. The only fees are those taken by the specific transfer system and they are passed on at cost.

Trust of course may be an issue. There are no hard and fast rules but I generally look for some form of mutual acquntaince or referral.

Usually it can be worked out.

In the UK the money transfer is generally done by Paypal, BACS or Amazon Gift Card and for those UK trades there are generally no costs involved.

For other parts of the world I commonly use PayPal, but can also look at Western Union and TransferWise.

If anyone has steem to sell please let me know in a comment below or via Discord @pennsif#9921

Let's push decentralisation a little bit further, and take a side-step round the exhanges.

I believe @jerrybanfield is currently developing some form of automated steem / fiat direct exhange system.

That will be great when it comes. Anyone know the timescale on that project now?

You might also be interested in some of my other posts :

[ graphic by @pennsif ]

#steem #cryptocurrency #money #anarchy
7 years ago in #promo-steem by
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    • [-]
     7 years ago 

    I am one of the Steemians who has sold Steem to @pennsif a few times and I vouch for his trustworthiness! Do recommend! 👍

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     7 years ago 

    Thank you @phoenixwren. Always happy to trade with you.

    [-]
     7 years ago (edited)

    I must say seeing now banks are planning to own crypto-exchanges, it is not a bad idea to sell directly and dis-intermediate the third-party however my only issue is that we are still engaging a third-party (like Paypal etc) which might defeat the purpose? Pardon my ignorance, may be I don't fully understand how it works. I would love to learn more if this is the future :)

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    [-]
     7 years ago 

    My issues with the exchanges are the fees and customer service if the trade hits a snag. Customer service on the exchanges is dismal. If I can bypass them, I will.

    [-]
     7 years ago 

    I can second that. When I have used exchanges and there have been delays or problems, the exchanges never want to help and just try to blame another party.

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     7 years ago 

    The intermediary like PayPal obviously has be involved unless the participants are geographically in the same place.

    As well as PayPal I use direct bank transfer (but that still requires banks) or Amazon Gift Cards (that still requires Amazon).

    The ultimate goal might be to leave fiat money behind and trade goods for steem. You give me steem and I give you cabbages for example.

    Building local trading economies based on steem is a dream I am forever reaching out for.

    As the steem world, and the steem population, grows so that comes every day one step nearer...

    [-]
     7 years ago 

    I'll also vouch for trades with @pennsif. Have done a few and it's always fair and fast!

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    [-]
     7 years ago 

    Thank you @aunt-deb. Always happy to trade.

    [-]
     7 years ago 

    I have some to sell to you @pennsif. I am friends with @phoenixwren. I was just hoping to see if the rate would go back up a little over the next cppl of days but was going to contact you by 3/4. I need US fiat to pay my rent by 3/12.

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    [-]
     7 years ago 

    Hi @luanne, yes @phoenixwren mentioned you. Just contact me when you are ready to trade.

    [-]
     7 years ago 

    Cool. Ty!

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